Obama blames India for spike in oil prices

By:


Washington:
US President Barack Obama sought to blame burgeoning growth in India,
China and Brazil for the raising oil prices in a bid to deflect the
criticism of the Republicans in an election year who are attributing the
surge to his failed energy policy.




Citing rising auto sales in these countries, he said as people in India
and China get wealthier they will buy more cars and fill them up like
Americans do, driving up oil prices.




Although Obama did not did not lay out a plan to deal with energy issues
at home, he did call for removing subsidies to oil companies and investing
more in clean alternatives.




"When you start hearing a bunch of folks saying somehow that there's some
simple solution, you can turn a nozzle and suddenly we're going to be
getting a lot more oil, that’s not just how it works.




"Over the long term, the biggest reason oil prices will rise is because of
growing demand in countries like China and India and Brazil," Obama said
in a speech in New Hampshire.




Obama travelled to Nashua in New Hampshire to deliver an address in energy
and gas prices, which has crossed $4 per gallon here and has started
pinching common man’s pocket.




Observers say the Republicans, in a presidential election year, are trying
to exploit the issue in their favour to defeat Obama, who is seeking
re-election.




"Just think about this. In five years, the number of cars on the road in
China more than tripled. Over the last five years, the number of cars
tripled. Nearly 10 million cars were added in China alone in 2010 -- 10
million cars just in one country in one year. So that’s using up a lot
of oil," he said.




"Those numbers are only going to get bigger over time. As places like
China and India get wealthier, they're going to want to buy cars like we
do, and they're going to want to fill them up like we do, and that’s
going to drive up demand," Obama said.




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